News & Analysis as of

State-Sponsored Retirement Plans

Nelson Mullins Riley & Scarborough LLP

Federal Court Finds Pension Plan “Established” by Hospital Authority is Exempt from ERISA

The case involves a dispute over the sponsorship and funding obligations for a pension plan formed by a Hospital Authority in Georgia. Our...more

Nossaman LLP

California Supreme Court Grants Review of First Post-Alameda Decision on Compensation Earnable Restrictions — Amicus Curiae Briefs...

Nossaman LLP on

In surprising news for the California county retirement system community, on April 17, 2024, the California Supreme Court granted review of Ventura County Employees’ Retirement Ass’n v. Criminal Justice Attorney’s Ass’n of...more

Nossaman LLP

UPDATE: Retirement Board’s Limits on Inclusion of “Straddled” Leave Cashouts in Retirement Allowance Determinations Affirmed by...

Nossaman LLP on

UPDATE: On January 18, 2024, the Second DCA responded to requests for publication of its decision discussed in our last eAlert on this topic (below) and certified the decision for publication. This is an important next step...more

Pullman & Comley, LLC

Connecticut Comptroller Using a Survey to Solicit Information from Municipalities Regarding Retirement Plans

Pullman & Comley, LLC on

Our July 14, 2023 Client Alert discussed the information and documents that Connecticut Public Act 23-182 requires municipalities sponsoring retirement plans to provide to the Comptroller’s Office by September 1, 2023. On...more

Pullman & Comley, LLC

MyCTSavings: August 31, 2023, Deadline for Connecticut Employers Should You Be Concerned?

Pullman & Comley, LLC on

August 31, 2023 is the deadline to register your business for the state-sponsored employee retirement savings program MyCTSavings. If you currently sponsor a retirement plan that complies with the requirements of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Minnesota Establishes State-Sponsored ‘Secure Choice’ Retirement Program for Private-Sector Employers Without Retirement Plans

On May 19, 2023, Governor Tim Walz signed into law House File No. 782, establishing the Minnesota Secure Choice retirement program. Minnesota has now joined California, Colorado, Oregon, Illinois, and other states in creating...more

Pullman & Comley - Labor, Employment and...

Connecticut Extends Deadline for Employers to Comply with Mandatory Retirement Savings Program

New Deadline is August 31, 2023 - Connecticut has established a state-run employee retirement savings program ("MyCTSavings") that launched in 2022 and is administered by the Office of the State Comptroller. The individual...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Employees are not interested in state plans

I like state mandates for retirement plan coverage, because it increases interest in employers sponsoring 401(k) plans. I’m of the opinion that when push comes to shove, employers would rather sponsor their own 401(k) plan or...more

Nossaman LLP

Untangling the Web of County Employees Retirement Law Rules on Disability Retirement and Reciprocity

Nossaman LLP on

On January 30, 2023, the Fourth District Court of Appeal clarified which sorts of retirement benefit payments do and do not count as a “disability allowance” within the context of the reciprocity rules of the County Employees...more

Ervin Cohen & Jessup LLP

New Employment Law Expands Required CalSavers Retirement Savings Program

Effective January 1, 2023, Senate Bill 1126 expands California’s CalSavers Retirement Savings Program by requiring employers with at least one employee to register for CalSavers by December 31, 2025, if the employer does not...more

Fisher Phillips

California Expands State-Run Retirement Program

Fisher Phillips on

California Governor Gavin Newsom recently signed legislation that will expand CalSavers, the state’s IRA-based retirement program, to cover virtually all California employers that do not sponsor their own qualified retirement...more

CDF Labor Law LLP

Reminder: Certain California Employers Without 401(k) Plans Must Register For CalSavers Retirement Program

CDF Labor Law LLP on

As of June 30, 2022, employers with at least five California employees must register for the CalSavers Retirement Program if they do not otherwise offer a 401(k) plan to their employees. The CalSavers Retirement Savings Trust...more

Ervin Cohen & Jessup LLP

CalSavers Deadline Approaches for Mid-Sized Companies to Register or Certify as Exempt

The CalSavers Retirement Savings Program (CalSavers) was established to assist the estimated 7.5 million California employees without employer retirement savings plans. Mandatory compliance is phased-in over time and depends...more

Greenberg Glusker LLP

Coming Up—CalSavers Compliance Deadlines: What California Employers Should Know

Greenberg Glusker LLP on

The deadline for California’s largest private-sector employers to either register for, or opt out of, the CalSavers Retirement Savings Program is quickly approaching....more

Ervin Cohen & Jessup LLP

CalSaver Deadline Approaches for Large Companies to Register or Certify as Exempt

By September 30, 2020, all California companies with more than 100 employees must register with the CalSavers Retirement Savings Program (CalSavers) or certify that they are exempt. Employers without employer retirement...more

Sheppard Mullin Richter & Hampton LLP

Important CalSavers Registration Deadlines for California Employers

Important Upcoming Registration Deadline: California employers with more than 100 employees are required to register (or certify as exempt) with the CalSavers Retirement Savings Program (CalSavers) by September 30, 2020 (the...more

Jackson Lewis P.C.

CalSavers Not Preempted By ERISA

Jackson Lewis P.C. on

With an alarming number of American workers lacking adequate retirement savings, California and a handful of other states began implementing state-sponsored retirement savings programs. The CalSavers Retirement Savings...more

Best Best & Krieger LLP

Ways To Correct Governmental Plan Problems

There are several tools that can be used to correct or fix governmental plan problems. First, some classification. Practically all the retirement plans we discuss are “tax-advantaged” in one form or another. However,...more

Epstein Becker & Green

New Jersey to Require Certain Employers to Participate in a State “Auto-IRA” Retirement Savings Plan Program

Epstein Becker & Green on

On March 28, 2019, New Jersey became the sixth state to pass legislation requiring that certain employers offer to employees a state-sponsored individual retirement account (“IRA”) program with automatic enrollment and...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Oregon opens up small business plan for individuals

Oregon announced that their OregonSaves retirement program will now allow individuals, such as self-employed or gig economy workers, to join and start participating in this program for small employers. OregonSaves began...more

McDermott Will & Emery

Treasury Issues New Guidelines on Searching for Missing Retirement Plan Participants

McDermott Will & Emery on

The US Department of the Treasury recently issued guidance that retirement plan sponsors should consider as part of their obligation to take reasonable steps to locate missing participants. Specifically, the Treasury issued a...more

Benesch

Oregon Retirement Program Faces Court Challenge

Benesch on

The ERISA Industry Committee (ERIC) has filed a lawsuit challenging the enforceability of the OregonSaves Retirement Program (OregonSaves). The ERISA Industry Committee v. Read, No. 3:17-cv-1605 (D. Or. Oct. 12, 2017)....more

Fisher Phillips

What Employers Need To Know About Mandatory Payroll Deduction Savings Programs

Fisher Phillips on

Administering and providing retirement benefits can present difficulties to employers. If you offer such benefits, you must choose and monitor service providers, offer prudent investment options, and administer benefits,...more

Franczek P.C.

Final Regulations Issued on Application of ERISA to State-Sponsored Retirement Programs for Private Sector Employees

Franczek P.C. on

The U.S. Department of Labor (“DOL”) has issued final regulations allowing states to implement state-sponsored retirement plans for private sector employees without running afoul of the Employee Retirement Income Security Act...more

Baker Donelson

Maryland Enacts Mandatory Private-Sector Retirement Program That Impacts Most Maryland Employers

Baker Donelson on

Maryland joins California, Connecticut, Illinois, and Oregon in leading state initiatives to set up state-sponsored retirement plans for employees. The Maryland Small Business Retirement Savings Program and Trust (“the...more

25 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide